MKM Partners Initiates Coverage on EQT (EQT)
Research analysts at MKM Partners started coverage on shares of EQT (NYSE:EQT) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating and a $28.00 price target on the oil and gas producer’s stock. MKM Partners’ price objective points to a potential upside of 53.42% from the company’s current price.
Several other brokerages also recently issued reports on EQT. BMO Capital Markets reiterated a “hold” rating and set a $35.00 price target on shares of EQT in a report on Tuesday, November 13th. Credit Suisse Group decreased their price target on EQT from $48.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 15th. Jefferies Financial Group set a $52.00 price target on EQT and gave the stock a “hold” rating in a report on Tuesday, September 18th. Goldman Sachs Group assumed coverage on EQT in a report on Monday, September 17th. They set a “neutral” rating and a $54.00 price target for the company. Finally, LADENBURG THALM/SH SH set a $70.00 price objective on EQT and gave the stock a “buy” rating in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. EQT presently has a consensus rating of “Hold” and a consensus price target of $40.13.
EQT stock traded down $0.66 during trading on Wednesday, hitting $18.25. 4,767,396 shares of the company were exchanged, compared to its average volume of 12,229,786. EQT has a 52 week low of $16.29 and a 52 week high of $59.68. The company has a market capitalization of $4.76 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.53 and a beta of 0.92. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48.
In other EQT news, CEO Robert Joseph Mcnally acquired 8,700 shares of the business’s stock in a transaction on Friday, November 16th. The shares were acquired at an average price of $16.69 per share, with a total value of $145,203.00. Following the completion of the transaction, the chief executive officer now owns 56,415 shares in the company, valued at $941,566.35. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David Joseph Smith acquired 10,000 shares of the business’s stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $16.33 per share, for a total transaction of $163,300.00. Following the transaction, the senior vice president now owns 9,190 shares of the company’s stock, valued at approximately $150,072.70. The disclosure for this purchase can be found here. In the last three months, insiders acquired 94,269 shares of company stock worth $2,311,332. Insiders own 0.68% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of EQT by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,073,288 shares of the oil and gas producer’s stock valued at $1,241,682,000 after buying an additional 687,779 shares during the last quarter. Legal & General Group Plc lifted its position in shares of EQT by 1.7% during the 3rd quarter. Legal & General Group Plc now owns 1,123,196 shares of the oil and gas producer’s stock valued at $49,679,000 after buying an additional 18,816 shares during the last quarter. Standard Life Aberdeen plc lifted its position in shares of EQT by 13.6% during the 3rd quarter. Standard Life Aberdeen plc now owns 65,884 shares of the oil and gas producer’s stock valued at $2,915,000 after buying an additional 7,909 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of EQT by 30.1% during the 3rd quarter. Nordea Investment Management AB now owns 13,777 shares of the oil and gas producer’s stock valued at $610,000 after buying an additional 3,188 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of EQT during the 3rd quarter valued at $1,117,000. 96.52% of the stock is currently owned by hedge funds and other institutional investors.
EQT Company Profile
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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